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Gammon Gold Inc. (NYSE: GRS) is pleased to announce that it has entered into an agreement with Corex jordan shoes shop Gold Corporation to acquire 4,706,000 units of Corex pursuant to a non- brokered private placement. Each unit consists of one common share and one half of one share purchase warrant exercisable mbt shoes at CAD $0.90 for a period of 24 months from the closing date of the transaction. The subscription price for the units is CAD $0.68 per unit for an aggregate purchase price of CAD $3,200,080. Corex will place an additional 1,694,000 units, with other qualified jordan shoes store investors, for total proceeds of $4,352,000.

After giving effect to the private placement, Gammon Gold will hold approximately 12% of the issued and outstanding shares (approximately 14% on a fully diluted basis) of Corex. Gammon will have discount jordan shoes the right to participate in all future financings of Corex to maintain its proportionate shareholding. Gammon will also nominate one member to the Technical Advisory Board of Corex. Closing of the transaction is expected to be on or before July 16, 2010 and is subject to the approval of the TSX Venture Exchange.

The investment in Corex is wholesale jordan shoes part of Gammon's growth strategy of identifying and investing in quality companies and assets located throughout North America.

Corex is a jordan shoes for cheap TSX Venture Exchange listed junior gold exploration company focused on advancing the Santana Gold Project in Sonora State, Mexico. mln